House Hacking MultiFamily versus Single Family Home

[Cody Evans]

Hi BP community! 

This is my first post in awhile. I am looking to buy my first property and househack it! Houses in my market are are at least 400k because I am in Northern California. Ideally, I would like to have a multifamily home because it makes more money but I am not sure if it is a better idea to get a SFH. What are common pitfalls to look for when house hacking? How much money do I need for down payments on a SFH versus a multifamily? The down payment is going to be my biggest problem along with tenants. Please share any useful information or tips you have,

thank you,

Cody

[Frank Hinck]

@Cody Evans

If it’s not a primary residence then 20%. Go multi if you can get a good buy, add value by separating utilities, or force other appreciation.